Gamma has confirmed that it has completed its acquisition of Starface. The deal is worth £164 million, after taking account of net cash and working capital.
This follows an initial announcement in January, with the transaction having now received regulatory clearance.
Andrew Belshaw, CEO of Gamma (pictured), commented, “We are delighted to have completed the acquisition of Starface. This marks the beginning of an exciting new chapter, allowing us to accelerate cloud adoption and innovation across the DACH region.
“We look forward to working closely with our new colleagues, partners, and customers to drive the future of cloud communications across Europe.”
The terms of the transaction remain as disclosed in the 14 January 2025 announcement, with Gamma acquiring 100 per cent of the equity of SF Technologies Holding, the company trading as Starface.
£30 million of the deal was funded through a new Revolving Credit Facility, with the remainder covered by Gamma's existing cash resources. The cash outlay for the acquisition (excluding transaction costs) was €201.6 million.